GM Ventures and Niron Magnetics have completed a partnership agreement to co-develop Clean Earth Magnet motor technology that can be used in future GM electric vehicles (EVs).
GM is working to develop a broad portfolio of affordable and sustainable EVs for an all-electric future. EV motors is a key element of GM’s Ultium Platform: their magnets present a great opportunity to reduce cost and environmental impact compared to traditional magnet materials while localizing GM’s EV supply chain in North America.
The permanent magnets in EV motor rotors are typically made from rare earth minerals like terbium, dysprosium, praseodymium and neodymium, which are expensive and currently processed almost entirely overseas. Niron Magnetics has developed the world’s first and only permanent magnet with automotive-grade power that is entirely free from critical materials, including rare or heavy rare earth minerals.
“We believe Niron’s unique technology can play a key role in reducing rare earth minerals from EV motors and help us further scale our North American-based supply chain for EVs,” said Anirvan Coomer, president of GM Ventures. “Our path to an all-electric future will be enabled not only by our own research and development efforts, but also by investing in next-generation technology from startups and established companies outside our four walls.”
Niron’s proprietary Clean Earth Magnet technology is based on iron nitride, an abundant and affordable material with great potential for commercial use in future EVs.
“GM invented rare earth permanent magnets nearly 40 years ago, and now we’re working together to bring the next generation of automotive magnet technology to market,” said Jonathan Rowntree, CEO of Niron Magnetics. “We think that our Clean Earth Magnets can help GM in its goal to put everyone in an EV.”
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